Auditor's Dictionary
Terms, Concepts, Processes, and Regulations
Chapter One
B
backflush costing A costing method in which *costs are allocated to products
when a manufacturing process is finished, or when a sale is made. Backflush
costing is normally associated with *just-in-time (JIT) manufacturing and
delivery practices, and it offers the advantage of avoiding cumbersome and
expensive cost tracking mechanisms. It is particularly suited to the typically
low *inventory levels of JIT environments.
back office The administrative functions of a *brokerage operation that trades
in *securities, *commodities, and *currencies. Compare *front office.
backup 1. The periodic copying of accounting and other data in case of loss of
information. The backup of computerized information systems permits data
recovery and is normal practice in modern organizations. The frequency and
storage arrangements of backup copies are ... read full excerpt from Auditor's Dictionary: Terms, Concepts, Processes, and Regulations ebook
